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Monetary policy when interest rates are bounded at zero

Fuhrer, Jeff; Madigan, Brian - Federal Reserve Bank of San Francisco - 1994

bound on nominal interest rates does limit the ability of the central bank to stimulate the economy by reducing interest …

Persistent link: https://www.econbiz.de/10005078238

Optimal policy with limited commitment

Kasa, Kenneth - Federal Reserve Bank of San Francisco - 1994

This paper uses Whiteman's(1986) frequency-domain optimization methodology to parameterize the precommitment period in a standard rational expectations policy design model. This allows researchers to adopt an empirical approach to the time consistency issue. That is, the operative commitment...

Persistent link: https://www.econbiz.de/10005078309

On the welfare cost of inflation

Robert E. Lucas, Jr. - Federal Reserve Bank of San Francisco - 1994

Estimates are provided for the social cost of inflation in the U.S. economy. The estimated cost, expressed as a …

Persistent link: https://www.econbiz.de/10005078358

Policymaking on the Federal Open Market Committee (FOMC): transparency and continuity

Yellen, Janet L. - Federal Reserve Bank of San Francisco - 2005

Presentation to the Bank of Japan’s 12th International Conference of the Institute for Monetary and Economic Studies (Tokyo, Japan) May 31, 2005

Persistent link: https://www.econbiz.de/10010724780

Maintaining price stability in a global economy

Williams, John C. - Federal Reserve Bank of San Francisco - 2011

Presentation to Town Hall Los Angeles, Los Angeles, CA, May 4, 2011

Persistent link: https://www.econbiz.de/10010724786

Closing panel presentation

Yellen, Janet L. - Federal Reserve Bank of San Francisco - 2009

Panel discussion for the Federal Reserve Board/Journal of Money, Credit, and Banking (JMCB) conference on "Financial Markets and Monetary Policy", Washington D.C. , June 5, 2009

Persistent link: https://www.econbiz.de/10010724800

Monetary policy, money, and inflation

Williams, John C. - Federal Reserve Bank of San Francisco - 2012

Presentation to the Western Economic Association International, San Francisco, CA, July 2, 2012

Persistent link: https://www.econbiz.de/10010724834

Challenges for policymaking in a changing global economy

Yellen, Janet L. - Federal Reserve Bank of San Francisco - 2005

Presentation to the Bank of Korea’s International Conference 2005 on The Effectiveness of Stabilization Policies, Seoul, Korea, May 27, 2005

Persistent link: https://www.econbiz.de/10010724836

A macro-finance model of the term structure, monetary policy, and the economy

Rudebusch, Glenn D.; Wu, Tao - Federal Reserve Bank of San Francisco - 2003

This paper develops and estimates a macro-finance model that combines a canonical affine no-arbitrage finance specification of the term structure with standard macroeconomic aggregate relationships for output and inflation. From this new empirical formulation, we obtain several important...

Persistent link: https://www.econbiz.de/10010702130

Inflation scares and forecast-based monetary policy

Orphanides, Athanasios; Williams, John C. - Federal Reserve Bank of San Francisco - 2003

expectations in the economy and in the conduct of monetary policy. Agents are assumed to have imperfect knowledge of the precise … structure of the economy and the policymakers' preferences. Expectations are governed by a perpetual learning technology. With …

Persistent link: https://www.econbiz.de/10010702134